The Economic and Financial Crimes Commission (EFCC) has warned hotels, supermarkets, restaurants, and schools to stop charging in dollars or any foreign currency within Nigeria.
EFCC’s Chairman, Ola Olukoyede, stated this on Monday, in the latest edition of the commission’s monthly e-magazine, EFCC Alert.
Olukoyede said anyone found in the act of dollarization of the economy would be prosecuted because such actions would be treated as criminal offenses by Nigerian laws.
“Schools that charge Nigerians in dollar, supermarkets that trade in dollar, estate developers that sell their property in dollar, hotels that are invoicing in dollar, we are coming after you and we have made arrests in that area,” Olukoyede said.
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“Yes, if foreigners are coming in and the only means of transacting is their credit card, and dollar, why not, you will get that.
“But document it properly as against selling things within the system, local economy and you will be using dollar as the medium of exchange, it is illegal.
“Our law does not allow for that. And we have also effected some arrests.”
Olukoyede stressed that the EFCC will eradicate the mutilation of currency and illegal dealing in forex.
He stated that the EFCC’s activities is in tandem with the Central Bank of Nigeria (CBN) to ensure that those involved in currency trading are properly licensed, regulated, and are properly documented.
Olukoyede reiterated his call for the establishment of special courts to hasten corruption cases and urged the National Assembly to facilitate the process.
He noted that that addressing corruption through extraordinary measures like special courts was crucial for Nigeria’s development and called for legislative support in that regard.
